CoinGecko: Bitcoin Still in Bull Cycle, Drop Was Just a Shakeout! - Coin Bulletin

**Bitcoin's sharp drop in price to (BTC) may scare investors, but analysts believe that the long-term bull market is still ongoing and that the current movement is just a short-term correction.

In recent weeks, Bitcoin (BTC) has dropped by about 20 percent from around 110,000 dollars to 87,000 dollars. Although this sharp drop may have caused panic among investors, industry experts and analysts are stating that there is no need to worry.

According to Arthur Hayes, a well-known analyst in the markets, the price of Bitcoin could drop to as low as 70,000 dollars in this downturn period. However, this situation will not change the long-term rise of Bitcoin.

CoinGecko stated in its analysis that we are still in the middle of a bull cycle and believes that we have only experienced a short-term shake.

Institutional investors are still ambitious in Bitcoin

Although the short-term decline in the popularity of meme coin markets may dampen investors' morale, institutional demand for Bitcoin continues to be strong. Not long ago, the financial giant Standard Chartered and investment firm Bitwise made striking predictions that the price of Bitcoin could reach $200,000 in the near future.

According to experts, such sharp declines in the market have been seen in previous bull cycles and each time the price of Bitcoin reached new highs in the long run. Therefore, it is emphasized that investors need to patiently embrace the current decline.

Analysts are warning investors about the risk posed by short-term panic selling, urging them not to 'throw in the towel' early. Emphasizing that this volatility is normal in the Bitcoin market, attention is drawn to the importance of a long-term investment strategy.